In 2016, 2015 and 2014, inventories were written down by $806, $2,493 and nil, respectively, to reflect the lower of cost or market price.

6.Project Assets

As of December 31, 2016, project assets, current and non-current, mainly consist of the SEF development across U.S.A., United Kingdom, Japan and the PRC, with the amount of $41,300 (2015: $41,326), $1,054 (2015: $9,193), $5,496 (2015: $21,132) and $9,879 (2015: $24,075) respectively.

Project assets consist of the following:

December 31,

December 31,

2016

2015

Under development-Company as project owner

$

48,605

$

72,405

Under development-Company expected to be project owner upon the completion of construction*

9,124

23,321

Total project assets

57,729

95,726

Current, net of impairment loss

$

27,980

$

35,355

Noncurrent

$

29,749

$

60,371

* All of the projects costs under this category were recorded as project assets, noncurrent.